CPA, MCI sign MOU for market development

The Competition Protection Authority and the Ministry of Commerce and Industry have signed a memorandum of understanding (MOU) aimed at fostering joint cooperation to promote development and enhance market conditions.

The signing ceremony involved Dr. Rashid Al-Ajmi, Chairman of the Board of Directors representing the Competition Protection Authority, and Ziad Al-Najem, Undersecretary from the Ministry of Commerce, reports Al-Rai daily.

The MOU underscores the commitment of both entities to collaborative efforts in alignment with the objectives outlined in Law No. (72) of 2020, emphasizing the protection of competition, maintenance of market competitiveness, and the enhancement of the investment environment in Kuwait, thereby supporting commercial and economic activities.

Ziad Al-Najem emphasized the Ministry’s pivotal role in evolving the market system, prioritizing services for consumers and employers. This initiative seeks to realize Kuwait’s vision, bolster the national economy, and advocate for free and equitable markets.

The signing of this memorandum serves as a cornerstone for strengthening economic cooperation between the Competition Protection Authority and the Ministry of Commerce and Industry.

It signifies a foundational step towards the exchange of expertise and the development of efficient collaboration in commercial sectors, ultimately contributing to the growth and enhancement of the market landscape.

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